Tech Companies like Apple, Google, Amazon pay one-third less in taxes than other companies. Computer Software and Internet Industries are below in list of Tax Rate by Industry. The total tax rate of Computer Software and Internet Companies are not greater than tax rate of only Banking Industry.
Google lowered its rate by $3 billion in 3 years to 2.4%.
These companies make income foreign and non-taxable in the U.S. through a process known as “Double Irish With a Dutch Sandwich”.
In 2011, Apple paid $3.3 billion on profits of $34.2 billion, which is 3 times less than of Walmart, Home Depot and Target Tax Rate.
As we known that Apple is most valuable company of world, but its tax rate dropped from 25% to 9.8% in between 2009 to 2011. American most profitable companies pay less tax but public pay more.
Infographic by Mastersdegreeonline